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  • Bermudian reinsurer Montpelier Re has appointed two former ACE staff to senior management positions, it announced on 26 January. William Pollett will become treasurer and senior vice president at Montpelier at the beginning of February.
  • Another round of lawsuits have been launched between insurance giant AIG and CV Starr, which is headed by AIG’s former chief executive Maurice “Hank” Greenberg, according to reports in the Wall Street Journal (WSJ).
  • Shares in run-off (re)insurance group Alea Group Holdings slumped almost twenty percent in early trading this morning after the group predicted a full-year loss of $200mn-$240mn.
  • US insurer Markel weathered a record hurricane season to report full-year profits just 10.5 percent down for 2005 from $165.5mn in 2004 to $148mn.
  • The UK insurance outsourcing company Rubicon Corporation has appointed Kroll Corporate Advisory & Restructuring Group as administrators after experiencing trading difficulties.
  • Musical chairs among the senior London market underwriting associations saw the chairman and chief executive of ACE’s European operations Andrew Kendrick replace Brit’s Dane Douetil as chairman of the Lloyd’s Market Association (LMA).
  • The UK Court of Appeal has this morning (26 January) overturned a ruling that insurers should pay out on claims filed by people suffering from pleural plaques, a condition it had been suggested could lead to serious asbestos-related diseases such as...
  • The UK insurance outsourcing company Rubicon Corporation has appointed Kroll Corporate Advisory & Restructuring Group as administrators after experiencing trading difficulties. Established in late 2000 by the former chief executive of...
  • Lloyd’s “plumbing” system of outdated, paper-based processes is so unwieldy and inefficient and weighed down with the “sewage” of so many unsigned wording, delays and errors that its "customers can’t bear the stink", according to Alex Letts CEO of...
  • Lloyd’s has closed its controversial electronic platform Kinnect after spending an estimated £70mn+, and over four years of development time, on the ill-fated system.